It depends a lot on where your fort is. It depends on what's causing your lag. If you have a surface fort, with lots of tree litter, then yes, this is going to make a pretty dramatic impact. If you're underground and most of your lag is pathfinding, thermo, fluids, and active history, then no, it's not going to do squat. But I nevertheless swear by this tip. (See my sig.) It's neat to see this was already known back in 2008. My G_FPS is always at 10, I think. The UI is slightly slower to use, but the speedup during gametime is quite worth it. Only really makes a UI difference if you need to move the cursor a long way using the keyboard.
If this tip is going to help you, your calculations per second should depend on the window size, I think, so you could try playing with a smaller window of dwarf fortress first and see if that helps. If it does, then the G_FPS tip is for you.
Also, to another poster, calcs per second of 10 is abysmally low, and definitely caused by something other than graphics (unless your computer is a brick), so it makes sense that it only boosted you ineffectively. But in my experience, it's enough to take 60 fps back up to 100 in many scenarios, if you have a moderate-sized fort in which you might expect to have good fps already (which are the kinds of forts I play, since I hate low fps), but inexplicably don't.